A College Degree Without Debt? Yes You Can!

Today I’m excited to have a good friend of mine, Cy Vanover, sharing his knowledge on getting a college degree without debt. Cy is a genius at this stuff and just came out with his first book on the subject so even though this post is a bit long, READ IT and SHARE IT with anyone who may be planning for college anytime soon.

Since 1978, the average price of college tuition has increased 1,100 percent. No folks, that’s not a typo … a 1,100 percent increase, even when adjusting for inflation. But don’t take my word for it; that statistic comes directly from William (Bill) Bennett, former Secretary of Education under Ronald Reagan.

There was a time (not that long ago) when students could pay their way through school by working part-time jobs and graduating completely debt-free. Yes, they had to live very frugal lives in order to do it, but do it they did. What happened to those days?

Due to the outrageously high costs of earning college degrees that we see today, many are now questioning whether going to college is even worth it, like Bill Bennett, who coauthored the new book “Is College Worth It?” In Bennett’s book he states that about half of all new college graduates end up either unemployed or underemployed with tens of thousands of dollars in student loan debt. You know when a former Secretary of Education questions the value of a college degree that things are bad.

I still believe it’s a good idea to acquire an education or earn a college degree (or both, if you prefer). The problem with earning a college degree today is the return on investment (ROI), or specifically, the lack of a return. Far too many people are graduating from college and not being able to find meaningful employment. Many have to go with whatever work they can find and some even have to move back in with their parents just to make ends meet. The cost of earning a college degree has become way too expensive and many people are ending up in bad financial shape because of it.

What happened? The explanation is simple: Things were going just fine in the world of higher education until the introduction of government grants and student loans. Before these things existed, if a student couldn’t afford to go to college, he or she simply didn’t. It was that lack of money (and demand) that kept prices in check. And then almost overnight nearly everyone could “afford” to go. Grants were given to lower income folks and student loans were made available to everyone else. And not only that, but everyone was strongly encouraged to attend college, too. It was this sudden injection of “easy money” and high demand for the product (a college education) that caused prices to rapidly rise.

The reason colleges and universities raised their prices isn’t hard to understand. Since everyone could suddenly “afford” to go to college, the schools believed they could raise tuition prices to bring in more revenue. Over the years, every single time the grant amount has been increased, schools have responded by raising their tuition prices. And it has been this way for years.

Nearly 20 years ago, when I was nearing high school graduation and considering my options for college, I knew that I didn’t want to take out any student loans to make it happen. I’ve always been very leery of debt. It’s probably the whole idea of being a servant to the lender that turns me off. I only want to be a servant to the Lord, not to a lending institution. So I started to do a little research to see what my options were. No stone was left unturned. What I found was truly surprising. I found many ways to earn legitimate college credit for much less than what most people believe to be possible. The information was out there; it was just scattered. And it was information that most colleges and universities don’t advertise. Why? Simple…because they are raking in the cash from your tuition money and they don’t want the gravy train to stop.

What incentive do colleges and universities have to advertise affordable alternatives to their expensive tuition? None that I can think of. Have you visited a college lately? I have. You can throw a dart at almost any college on the map and nearly all of them are expanding, renovating, beautifying, or doing something with all of the money they have.

After earning my bachelor’s degree I tucked the information I had gathered away in my cranial filing cabinet. Then I began to read news reports about so many people’s lives being destroyed because their student loan payments were much higher than they could afford. I started hearing these stories almost on a daily basis…on the news, on the internet, and in magazines. I felt really bad for these people because I knew that earning a college degree doesn’t have to be an expensive undertaking at all. I knew you could even earn a free college degree if you knew how the system worked. Yes folks … free (without a scholarship). That’s when I decided I had to share the information I had gathered all those years ago. The result is Earn A Debt-Free College Degree! And for the record, this is not another one of THOSE books that only talks about scholarships. I focus on strategies anyone can use to dramatically lower the cost of higher education. You don’t have to be the valedictorian to make them work. You don’t have to spend hours applying for scholarships. I discuss many different strategies in the book and I want to share one of those simple strategies with you today – the CLEP exam.

CLEP stands for College Level Examination Program. CLEP exams are a series of multiple-choice exams you can take and if you pass any of them, you are awarded college credit in the subjects you are challenging. CLEP exams have been around for years but oddly enough, few people know about them. CLEP exams were developed and continue to be administered by The College Board, the same organization that’s behind the SAT.

CLEP exams were designed to measure college-level knowledge of different subjects. Taking a CLEP exam is essentially the equivalent of taking the final exam of a particular course. One of the truly great things about these exams is the method you use to learn the material is irrelevant. The exam doesn’t care. It doesn’t matter if you acquired the knowledge by reading library books, by watching documentaries, through on-the-job training or work assignments, or anything else. The only thing that is important is to be able to demonstrate your knowledge of the subjects you are interested in challenging on the exams.

CLEP exams are offered in 33 different subjects, typically the subjects that make up the first two years of a college degree. Most CLEP exams are worth three credit hours each while a few are worth six. And if you score high enough on any of the foreign language exams, you can earn up to 12 credit hours with one single exam! All CLEP exams are multiple-choice with the exception of the English composition exam. All CLEP exams are scored from a range of 20 to 80 with a 50 being the most common passing score.

CLEP exams have quite a bit going for them but the most important thing I want to point out is how little they cost. All CLEP exams are currently $77 each, regardless of how many credits they are worth. That means you could earn 30 credit hours (by taking exams worth three credit hours each) with this method for only $770. Think about it…that’s one-fourth of a bachelor’s degree for less than the price of one single college course at most schools. And it could be even less if you take (and pass) exams that are worth more than three credit hours.

Here’s another thing that CLEP exams have going for them: If you fail a CLEP exam, no record of the attempt is made on your transcript. That’s much better than earning a bad grade (or failing) a particular course, isn’t it? All CLEP exams that you pass are recorded on your official transcript as either a “PASS” or “CR” (credit) with no letter grade. That means it doesn’t matter if you barely pass a CLEP exam. It doesn’t matter. You still get college credit for the course and you get to move on to something else. If you do happen to fail a CLEP exam and you want to try it again, simply wait the mandatory six months and take it again.

CLEP exams are administered by nearly 1,700 schools all across the United States and they are accepted for college credit by nearly 3,000 colleges and universities. In fact, it’s almost hard to find a school that doesn’t accept them. Most schools will accept at least 30 credit hours of CLEP exam credit but some schools, such as Troy University, in Troy, Alabama, will accept up to 60 credit hours of CLEP credit. I mention a few other schools that will accept up to 60 credit hours of CLEP credit in my book (hint, hint).

CLEP exams are perfect for high school students who want to earn college credit for the courses they are taking in high school. After finishing a couple of years of a foreign language, for example, why not take the corresponding CLEP exam and earn college credit? After wrapping up an algebra course, why not take the college algebra CLEP exam and earn college credit in that subject? Think about all the time and money (and headache) you’ll save when you enter college. Think about how far ahead of your peers you’ll be.

There are many different resources available you can use to prepare for CLEP exams. You can easily find these study guides by doing a search for “CLEP” in Amazon.

Colleges and universities that accept CLEP exams for college credit are very, very common. I randomly looked up the first ten schools that came to my mind to see if they accept CLEP. Here are the ones I looked up. And yes, every single one of them accepts CLEP for college credit:

Virginia Tech

East Tennessee State University

University of Tennessee

Radford University

Liberty University

University of Kentucky

Eastern Kentucky University

Georgia Tech

Tennessee Tech

University of Florida

I think you get the point.

Most schools keep a list of CLEP exams they will accept tucked away somewhere on their web sites or in their college catalogs. But it’s not something they openly advertise. We don’t want to interrupt the tuition gravy train now, do we? Well, yes, actually we do.

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Comments

I have a child entering his first year of college in the fall. Using a variety of sources including a band scholarship and tuition reimbursement provided by my husband’s job (sweet! I know!) this first year is paid for! But he has at least 3 more years to go and 2 little sisters as well. This book would be well used in our household.

I would love to go back to school. I didn’t get to finish college and would love to be able to. Now that I have 4 kids I want to be an example for them. I want to show them that anything is possible with God.

I unfortunately am one of the ones who is in debt for my college degree and am not currently using it. I would’ve loved to have known about this when I started to college. I would love to have this book so I can be prepared for when my children are getting ready for college. I didn’t really have anyone to really help me prepare for what I needed to do, so I want to be prepared for my children and be able to help them so they don’t start out in debt.

OMG I wish I knew this when I went to college! at least its not too late to for my son to use it, or my coworkers, or my bff’s, or my cousins, nieces, nephews and everyone else i can find to tell! maybe i husband can afford to go to school now too since he never got the chance….oh the possibilities!

We have twin daughters who just finished their first year of college. Fortunately, they both have worked hard for scholarships & have met all their needs. God is good! I would love to have a copy of this for reference. Sounds like a great reference to have. Thanks!

I want this book because I’ve got three little kids and I don’t want them to have debt with higher education! My husband was lucky enough to have a grandparent pay for his and I worked with Southwestern selling books to pay for mine. We had no college debt between us and I think that has put us MILES ahead in our finances…we want the same for our kids and this book sounds great so far!

I have a daughter in college and a son heading this fall. This article was great and I would love to learn other ways to save on their college education. So far we have been able to do it debt free…. My daughter works full time. I can’t wait to read the book!

It would be awesome to get this book! I am currently in college (and work full time), my daughter will be starting college in the fall, and my son will be going to college in two years. We are struggling to pay my tuition now and come fall we will have my daughter’s tuition to pay, also. If we don’t find a way to help with the cost of our degrees, my children may not be able to attend college and obtain degrees. I can’t wait to find other ways to help with the cost of our college debt.

I’d love this resource! I was blessed to not have any debt after earning my college degree (23 years ago!), and my husband and I would love for our 4 children to be in the same position. College starts for our oldest in just 2 years, and we can use all the helpful advice we can get. We’re astonished at the cost of college today.

I was part of the generation where we were told to take out student loans and we’d pay the money off easily when we started working. College was not an option in my family or for people who were supposed to succeed in my high school. I have four years of a bachelor’s degree and two years of a master’s in education…on a two family income of approximately 50,000 a year, I could not afford the more than 1,000 a month the student loans were asking.
I sincerely wish I had spend time doing a combination of CLEP and community college while working part time. I also wish I had not gone to graduate school…biggest waste of money EVER!
I hope you inspire others to avoid student loan debt. College is NOT for everyone; decide where God wants you in life before you take on such a large amount of debt.

I have a homeschooled teen doing high school right now. He’s academically strong, but we’re are less strong financially. This is exactly the information I have been looking for as we look to his future (and that of his younger siblings).

I need this book because my son is going to college this fall and his school gave scholarships to approximately 5 kids out of the 170 in his class. I can not believe how expensive college is now. I got a masters degree for 16,000. His undergrad is going to cost more than 80,000.

I am a professor so all of my kids get free tuition at my institution. Still, I have worked with many students over the years to either move ahead more quickly or cut the price of their degree. CLEP is fantastic but, if you are in the military or a veteran, DANTES testing works equally well. My eldest son is also using post-secondary education option (in Ohio, the name may vary in your state) to take college classes for free while in high school that count towards his college graduation. I have had many students graduate with an AA or AS degree a few weeks *before* graduation from high school, all tuition paid.

In case you’re wondering, no, most professors are not seeing the sorts of salary increases you would expect with at 1100% rise in tuition. It goes to buildings, technology, and other bells and whistles. Most of the people who teach college classes are adjuncts who don’t even make minimum wage if you calculate their preparation and grading time.

Wow, I am thinking this is providence! I was just thinking the other day about finally deciding if I wanted to go back to school or not. The only thing that holds me back is the cost. And then you post this….. Providence, I tell ya! Thanks for sharing this, and I really hope that I win a copy.

My daughter just clepped biology after finishing her homeschool biology text. Six college credits for $95. She plans to do another one really soon and is taking a community college class here and there. She is still a junior in high school. She’s is finishing her 12th credit since Jan. and will clep to 15 by the end of the summer.

Our twins have three more years of high school and then they will be off to college. Any suggestions will be helpful with two going at the same time, especially since we would like them to finish debt free. We’re hoping they can go local, for at least part of their education, which will help keep the cost down.

I would just like to clarify some more information on the Clep exams before anyone gets too excited. CLEP exams are exceptionally difficult and are NOT like the final exam in a college class. Yes, you will get credit for the equivalent college exam, but do not be fooled into thinking they are the same. I have a postgrad degree, and am going to do an accelerated bachelors in Nursing. I took the biology clep and the math algebra clep in the last 3 months. Both were very difficult. The biology which equates to an equivalent first year class covered chemistry, plants, evolution, ecology, human biology, taxonomy and animals. It was a mammoth 135 questions and most were critical thinking. It is not good enough to know the stuff, you have to apply it.
The Math Algebra clep was even more difficult and few people finish it in time. It had lots of pre-calculus on it. Nothing simple.
Also, the information about schools not knowing if you failed is incorrect. When you take the Clep, it asks you to which school you want to send the score. You have to specify that before you find out your grade. Secondly, the schools do get your actual score. Depending on the school, they might simply give you credit, but if you are looking at any program that requires a certain GPA, they have the ability to determine that from your score. Cleps are a cheaper way of getting credit, but don’t think you can skip any learning. It is best for people who have done the work prior. I did very well on the Biology, but I had taken human anatomy, microbiology, basic chemistry and organic& biochemistry classes, as well as tutored chemistry for two years…I still had to study a lot more and it was still difficult. All of those topics were covered. Community colleges are a better way to take the prerequisite classes.

First, about the difficulty…some CLEP exams are more difficult than others, no question about it. However, I am confident that any high school student who has done reasonably well in a particular course should be able to pass the corresponding CLEP exam by spending maybe a week or two on a CLEP study guide. Whether a person considers these exams to be “exceptionally difficult,” as you state, is highly subjective. If these exams were a cake walk, schools wouldn’t award college credit for them, would they?

You state: “Also, the information about schools not knowing if you failed is incorrect.” Please re-read the info in the post above. I do not state that schools don’t know what your score is. I state that no record of the failed attempt is made on your college transcript, which is entirely true. Technically, The College Board does not consider any score to be passing or failing, they simply send your CLEP scores on to the school you’ve designated and it’s up to that school to decide whether the score is high enough to award college credit. If it isn’t a high enough score, no record is made on your transcript.

You also state: “If you are looking at any program that requires a certain GPA, they have the ability to determine that from your score.” I have never heard of a graduate school ever thumbing their nose at any applicant based on CLEP scores. It wouldn’t make sense for them to, either, since most CLEP exams are for introductory classes. They can easily determine if a student is right for their graduate programs based on the GPA derived from upper-level classes that must be completed to graduate in addition to admissions tests (GRE, LSAT, etc.).

You also state: “Cleps are a cheaper way of getting credit, but don’t think you can skip any learning.” That’s true…you definitely need to know the material. But the great thing about these exams is that the method you use to learn them doesn’t matter. Some people who are history buffs, for example, may have no problem passing the CLEP history exam based on reading books and watching the History Channel. Those who work with computers on a regular basis may have no trouble passing the CLEP exam for computers, and so forth.

And lastly, you also state: “Community colleges are a better way to take the prerequisite classes.” And to this I reply…for some people, yes. I’m a huge fan of community colleges and definitely think people should use them, but I have to disagree with the assertion that they are better for everyone. Whether they are better than CLEP exams depends on the individual. Some people will do better with community college classes while others will find CLEP exams to be the better choice. I always recommend trying CLEP exams first and if you don’t earn the scores you need, go the community college route.

Homeschoolers have been going the CLEP route for years and on the clep prep list that I follow, you will see 12 year olds who have tested out of 22-24 credits this year. They graduate with their undergraduate degrees by 20 or clep/dantes completely out of undergraduate degrees and start with grad school. It’s about researching and finding ways to reach your goals faster and with less expense. And I have found nothing more motivational for my children then studying knowing that it will count on their high school transcript AND for college 🙂

Our church has a oversight program for homeschoolers and this book would be a great resource for the counselors there. I wish we had used something like this–all of our three kids have large college debts.

My husband is still in college, and we just had our second child. He works part time while in school and full time during the summer months, so I can stay at home with our children. We have an unpleasant amount of school loan debt already from my college education. This post intrigued me and I will definitely be looking into the CLEP exams available to my husband. Thank you for the tips!

This book sounds absolutely fascinating. I have six grandchildren and going to college will be hard financially for them all. They are all so smart that it would be ashame for them to miss out. If I won this book, they would have the knowledge to go forth.

Hello! First of all, thank you for doing this giveaway!
This is Marissa, second daughter of the Simple Homemaker. I am approaching college years and am really interested in learning how to do it debt-free. Both of my parents are still paying off their college education and are warning me not to go with the same expensive route. Getting that valuable college education, but doing it without jumping neck high into debt would be AMAZING!
Once again, thank you!

I have read this book and it is on my list of items to review. It. Is. FANTASTIC! I would have liked to see more nitty gritty on dual credits, but it is still terrific. It’s equally great for anyone interested in the military route. If you’re new to this topic, you’ll be enthralled from the first three words. If you’ve researched this topic heavily (as I have), you may find yourself in the first three chapters saying, “Tell me something I don’t know.” And THEN…he DOES! He tells you so much new stuff that you say out loud to yourself, “Self, return this to the library and go BUY IT!” But Self procrastinates, and then Self finds that Stacy is giving it away. Life is cool that way…especially if SELF wins! 😉

Seriously a wonderful tool in the arsenal of EVERY parent or high school student, not just us homeschoolers. Kudos to your friend…and a great big thank you!

Wow! I wish I would have known this before my husband and I went to college! Now we are trying to make ends meet while starting our family. I am definitly saving this information for my own children and will share with others I know! Thanks so much for this awesome post – it is a total game changer!

I didn’t realize I had to say why I wanted the book, sorry about that. We have three young adults living in our home and are determining their paths. Cost for college is a huge concern, and how we might alleviate some of that concern would be a blessing.

We had two in private Christian colleges and one recently graduated and is now
in post graduate work in a public university. We need all the help we can get. Thanks for the opportunity to win this book.

I’d love to win this book because…I love school! However, after only a year of college I dropped out in order to move to the US from Canada and marry my hubby. At some point I’d really like to finish my degree, even if it’s only for interest’s sake. Plus, you never know when something like that could come in handy.

As a mom still paying college loans (4.5 years private Ed), a husband with loans (4 yrs undergrad, 4 yrs vet. School, 4 yrs med school) – our oldest is turning 12, and there are currently 4 more behind her. It is entirely overwhelming to think about! I did use CLEP myself, at the time our public school counselor did share that information! I am very interested in the other methods shared in the book.

I an 47 and want to earn college credits. I am studying to b a master herbalist but as u know, that don’t count! I am learning so much that I could take some of the.CLEP tests. I also just like learning and would prolly have multiple degrees given the chance. Thanks for the giveaway.

Our oldest will be a high school sophomore next year and is signed up for two AP classes. CLEP exams sound like a good way to go for subjects without AP classes. We want to get all four of our boys through debt free, just like us.

I have one child who will be a senior next year in college. He did get a scholarship, but it was not a full ride and he will be left with several thousands of dollars of college loans when he finishes. My daughter will start college in two years and I would love to not have her in that same situation! Thanks for the information on the CLEP tests!

The gravy train of tuition $ has also created the ‘for profit’ college model that has ruined so many lives. I’d love to win this resource, but am considering purchasing it because it would be worth the money spent.

Hello! I am encouraged by this post. Our family would benefit from the book mentioned as we have a daughter who just finished her 1st year in college, debt free. We are all working to make the 2nd year the same, but many opportunities utilized last year are not renewable this year. We are hopeful regarding this give-away. Thank you for this blog and for sharing your wisdom.

My daughter is starting high school and we’re wondering what we’re going to do in 4 years (and 6, with her little sister), to get them through a quality university. I have never heard of CLEP, although I did earn over a semester with AP exams. I’m putting this book on my wishlist for in case I don’t win. 🙂

WOW!! Wish I would have known about this 18 years ago . . . I just paid off my final loans from my private college education & master’s degree . . . and am now staying at home with my kids! The burden of debt is so heavy. Now we’re trying to plan ahead for our kids and possibly even my husband as he’s exploring a change of career. Thanks for this post!!!

I want my children to be educated, but I don’t want them to be tied down by debt like my husband and I have been for the past 10 years. There has to be something better than a lifetime of paying down debt.

Great post! I would love to win this book for my sisters-in-law. One is heading back to college this fall with an excellent scholarship and I would love for her to continue the rest of her learning without the added stress of debt. The other just finished high school and has chosen not to pursue college due to lack of funds, so maybe this book could motivate her to give it a try 🙂 Thanks!

As a stay at home mom with three disabled children, I want to get my degree without the hassle of someone else’s schedule. My life can get very hectic at times. This seems like I finally can find a way to do this on my own schedule and time. Love it! Thanks for the info!

With a recent grad, two more in the next 3 years and 3 more after that, this is a great tpic for me! We have been intriqued by College Plus program,and College without Compromise book but this looks interesting too

My munchkins are still small (ish…oldest is going into 3rd grade), but already we’re talking to them about college and the importance of doing well at school so they can earn scholarships 🙂 Baby # 3 is on the way, so we’ll be needing this info!

GREAT TOPIC! I currently work as a hair stylist but am looking to further my education. A back up plan if you will! I already enrolled in a couple of classes and spending the money on my education is putting a damper on my savings. I do believe that money on an education is a great investment but if I only have to contribute a fraction for the same result I would love to!!!!

As an academic advisor in a tier one research university, I see all too often students who are running up debt to get a low paying job. I look forward to reading this book and will recommend it to my students.

I would love to win this book for my granddaughter….she is wanting to further her education in nursing, but being a single mother makes her believe she will never be able to do it. Thanks for the chance to win this great prize, that could help change her life.

This is very interesting. We homeschool our kids and have been trying to figure out ways to send them to college without debt. My oldest is going into the 7th grade, so we’re really trying to figure out what we can do in high school to help out with college.

I would love to win this book. I need to go back to school since I’m out of work for the second time in this recession mess, and intend to seek a high-demand degree in a severely short-handed field. Unfortunately, it’s a seriously expensive degree, too, and I’m broke.

I would love to win this book, so that I can earn a degree without causing any more debt to my family. As a family of five, it’s very hard to budget certain things and I don’t want to not be able to complete my college career due to financial lack for myself, my husband, or my children. I want to be able to show by example that you can do anything you put your mind to and that earning a degree shouldn’t put you in a bad place financially, but in a better place.
Thanks so much for the information in this post.

I believe God created you to be the hero of your home. You CAN manage your home instead of it managing you. That’s why I empower women with simple solutions for their homemaking needs – because if it’s not easy, you won’t do it. {Read More…}

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